Hummingbird Resources Share Discussion Threads

[the ghost who walks] 16/5/2021 20:05

Helpful, thanks. 75mln mcap and 30mln free cash flow, with the optionality on more, albeit with the risks you mentioned. Looks too good to be true

[plat hunter] 16/5/2021 19:04

And the rest... AISC will be back at circa 1000 by year end if guidance is maintained.POG at 1800 gives them an an EBITDA of 88 million USD on 110,000 ounces

[the ghost who walks] 16/5/2021 18:53

Does this make 30mln free cash flow per annum?

[plat hunter] 15/5/2021 15:02

Given that they have a 12 month lock in and a 12 month orderly market, I can't imagine they're that worried about where the share price is at the current time. By the time they are allowed to even think about selling them, the company would only be several months away from being a 200k producer

[polaris] 15/5/2021 14:06

@Golden Prospect - yes. These are still yet to be issued as no licence from government. Cassidy can't be that happy about the issue price either in the period since agreement confirmed. ;-) The effective price is 25 % less than when announced. As soon as licence is given, i'd expect the contracts for construction to be right behind, given the interim work on firming up costings.

[golden prospect] 15/5/2021 13:26

polaris, an update to confirm final debt payment would be welcome.

Re Kouroussa, from 8th June 2020 "Letter of Intent from the Company's West African Bankers, Coris Bank International, to provide up to US$100m for the development of Kouroussa as deemed necessary and according to the company's funding strategy, subject to due diligence and credit committee approval".

Terms of the acquisition are to receive Mining Licence then initial payment is £10m via 35.25m HUM shares @ 28.4p. Nice for Cassidy to get 9% chunk, unless they would like cash !
[ "All significant beneficial owners of Cassidy subject to 12 month lock in and 12 month orderly market"]

[plat hunter] 15/5/2021 12:49

I hope the six wise men of Koroussa aren't traveling to the star of Yanfolila by caravan.

[polaris] 15/5/2021 12:12

Expecting an announcement this week on the final debt repayment. Even though we know it is coming this Q, it always helps generate new interest for investors as the company can highlight the repayment profile and the fact that they have done it. Many small miners never get to this point!

I'd also like some update on Kouroussa. Get that license approval and start up initial construction works. Hopefully all in the bag by the end of Q2. Yes, it will need another funding round but, coming hot on the heels of paying off the first borrowing, i think that the market will welcome it this time. The HUM team also have experience this time around of how to build and commission a new mine, something that they didn't deliver well enough with Yanfolila. The construction will be around 18 months.

Get both of those in and VEIN sorting itself out post capital raise and sale of its other project and we can start to see what the market thinks Dugbe is worth. Not a lot right now but Stalker and his team have a lot to prove up this year and i think the valuation will move quickly in H2 2021 as the drilling continues.

The mid-term aim of 350-400 k oz seems a long way off but i do see the path towards it slowly coming into focus. If gold can finally breakout of the channel and there is further evidence of inflation (good for gold) then we might just see the ducks line up in epic fashion in H2.

[kennyp52] 15/5/2021 08:14

BT1 ... back shooting yet ?

[cinoib] 14/5/2021 19:57

Lowtrawler, I have 2,400 pencilled in, in my book and am pritty sure we will reach it if not higher. Some say 3,000 but that might be a little optimistic. I am old enough to remember the 70's and 80's and if we repeat the hyper inflation of 25% then 3,000 will be surpassed with ease.

[borderterrier1] 14/5/2021 18:18

Of course not.

[lowtrawler] 14/5/2021 17:35

PH. I have to say that a few months ago I was expecting somewhere over 2000 for the end of this year (in my head, probably around 2200 - 2400). With inflation making a quicker appearance than I expected and the EU / UK and USA all continuing to print money, I am thinking I maybe under-estimated. As you say, it starts to become speculative over 2000 but some of the more ambitious targets no longer seem impossible.

[new_buyer] 14/5/2021 16:40

As shrewd as you!!

[plat hunter] 14/5/2021 16:34

At least 1950-2000 beyond that is anyone's guess. I reckon anyone who's old enough to remember the 70' & 80's will be able to see what's coming.

[lowtrawler] 14/5/2021 16:17

PH, any view on pog at end 2021?

[sleveen] 14/5/2021 15:59

Cheers m'dear.

[plat hunter] 14/5/2021 15:53

Looks like we're on for 1890 over the next couple of weeks on the gold weekly chart.

[cinoib] 14/5/2021 14:49

Wow, I bet that was painfull. Gold only regained $30 in the last 2 days for us to move up 1/4p on the bid, go steady Hum we don't want have to get the oxygen out.

[borderterrier1] 14/5/2021 13:50

corrientes See what I mean? Please read newcomer Iglus comments on the LSE bb this morning. "Hum is in a fantastic position and undervalued". Really? Sorry Iglu 'ol bean, this was 40 p when it was a hole in the ground 5 years ago. Another "investor" sucked in nicely. Well done Iglu! You're obviously a VERY shrewd investor?

[golden prospect] 14/5/2021 10:03

At the end of 2019, HUM had $40m debt and SC were making their final top up.

Now clear of the $40m (say £28m), the proposition 18 months on seems even more compelling. Oh what games SC are playing, creating opportunities for the smaller investors. SC just need to clear 9m shares, probably less than a nine week process although one bit of good news could see a volume spike to resolve this!

[replicas1967] 13/5/2021 21:55

Blue tomorrow

[plat hunter] 13/5/2021 21:06

From LSEBrucey6onusPosts: 45Price: 21.75No OpinionKouroussa ArticleToday 15:27Below article was in French, out yesterday (Thanks to Google Translate) - Kouroussa Gold Mining = HUM subsidiary, looks like it might come down to six old dudes from Kouroussa liking our ESG work at Yanfolila. Fingers crossed. (And that's why we spend on ESG people)-------------------------------------------------------------------------------"The youth center of Kouroussa served as a setting on Sunday May 9, 2021 for a meeting between the emissaries of President Alpha Condé and the gold miners of this locality who demand from the authorities, the obtaining of a piece of land to mine for gold. .The delegation of Alpha Condé emissaries in Hamana was made up of executives from Kouroussa, and the budget minister, the chief of staff of the mining ministry, MPs Aly Kaba and Mory Condé.Instead of discussions, the meeting revolved around a video projection showing the achievements made by the company "Kouroussa Gold Mining" (KGM) in Mali and what it plans for the prefecture of Kouroussa in the next three months.Speaking after the screening, Budget Minister Ismaël Dioubaté informed the gold miners that the company is in Kouroussa "only for youth, women, farmers, breeders, fishermen, prefectural and municipal authorities. . The company will provide financial and material support to all your layers, "he argued while adding that the company intends to employ several young people from Kouroussa.The artisanal miners, who waited in vain to be authorized to speak, ended up joining their camp located in the mine.Before adjourning the meeting, Ismaël Dioubaté indicated that on the basis of a choice which will be made by the wise men of Kouroussa, he will send six (6) people to Mali for a study mission on the site of the company in order to see, he said, the achievements of the company."